The Winklevoss twins are now among the world's first bitcoin billionaires

Ellis Wolfe

Even JP Morgan's senior analyst Tom Lee has confirmed the optimistic estimates it wants to climb within five years to $ 25,000, endorsing his undisputed commercial success. After Cameron and Tyler Winklevoss won a multi-million dollar lawsuit against Facebook-they claimed their old college pal Mark Zuckerberg had stolen the idea for a social network, as made famous by the movie The Social Network-they invested heavily in the then-budding cryptocurrency.

It was also the twins' money that was responsible for sending bitcoin's market capitalization, now over $188.7 billion, north of $1 billion for the first time in March of 2013. And just last week it returned them 10,000%! In 2016, Gemini became the world's first licensed digital currency exchange.

In 2013, the twins used $11 million of the $65 million they pocketed when they settled the suit against Zuckerberg to buy bitcoins.

Today, they were named official Bitcoin billionares as BTC's price hit $11,700. "Still, the twins" early comments about bitcoin appear to have been prescient. That was about 1% of all bitcoin in circulation at the time. "We've never sold a bitcoin, we're in it for the long haul", Camerontold CNN Money in 2015. Last week it emerged that exchange operator Nasdaq could follow rival CME Group in launching bitcoin future contracts next year, a sign that professional investors are increasingly taking the asset seriously. One of the key benefits that Bitcoin offers is the possibility of quick big gains.

An increasing number of countries are now getting regulators to look at bitcoin and investing in blockchain, which legitimises the cryptocurrency. However, it looks like Bitcoin is here to stay. Winklevoss's, however, are the first public figures to have made a billion out of the currency.

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